Question 1

Appeals from the Court of Appeals go to the Supreme Court under a writ of certiorari.The Supreme Court decides whether or not they will hear the case.

Accepted Answer

A) True 
 B)False

Question 2

Identify which of the following statements is false.

Accepted Answer

A)  The number "5" in the citation Reg. Sec. 1.166-5 refers to the paragraph number. 
B)  The Cumulative Bulletin is issued semiannually while the Internal Revenue Bulletin is issued weekly. 
C)  The citation Rev. Rul. 2006-5, I.R.B. 2006-1, 33, indicates that the revenue ruling can be found on page 33 of the 1st I.R.B. for 2006. 
D)  All of the above are false. 
A)  The number "5" in the citation Reg. Sec. 1.166-5 refers to the paragraph number. 
B)  The Cumulative Bulletin is issued semiannually while the Internal Revenue Bulletin is issued weekly. 
C)  The citation Rev. Rul. 2006-5, I.R.B. 2006-1, 33, indicates that the revenue ruling can be found on page 33 of the 1st I.R.B. for 2006. 
D)  All of the above are false.

Question 3

The phrase "Entered under Rule 155" indicates that

Accepted Answer

A)  the computation of the exact amount of the tax deficiency has been left to the litigating parties. 
B)  the court has not reached a decision concerning the appropriate tax treatment of an issue. 
C)  the parties have agreed not to appeal the decision. 
D)  only one Tax Court judge reviewed the case. 
A)  the computation of the exact amount of the tax deficiency has been left to the litigating parties. 
B)  the court has not reached a decision concerning the appropriate tax treatment of an issue. 
C)  the parties have agreed not to appeal the decision. 
D)  only one Tax Court judge reviewed the case.

Question 4

In all situations,tax considerations are of primary importance.Do you agree or disagree? Support your answer.

Accepted Answer

It is important to consider nontax objec

Question 5

A tax bill introduced in the House of Representatives is then

Accepted Answer

A)  referred to the House Ways and Means Committee for hearings and approval. 
B)  referred to the entire House for hearings. 
C)  voted upon by the entire House. 
D)  forwarded to the Senate Finance Committee for consideration. 
A)  referred to the House Ways and Means Committee for hearings and approval. 
B)  referred to the entire House for hearings. 
C)  voted upon by the entire House. 
D)  forwarded to the Senate Finance Committee for consideration.

Question 6

What are some of the factors to consider when deciding in which court to file a tax-related claim?

Accepted Answer

Factors to consider include ea

Question 7

When the Tax Court follows the opinion of the circuit court of appeals to which the case is appealable,the court is following the

Accepted Answer

A)  Golsen rule. 
B)  Acquiescence rule. 
C)  Forum shopping rule. 
D)  Conformity rule. 
A)  Golsen rule. 
B)  Acquiescence rule. 
C)  Forum shopping rule. 
D)  Conformity rule.

Question 8

Identify which of the following statements is false.

Accepted Answer

A)  The acquiescence policy was adopted by the U.S. Tax Court to permit litigating parties to agree on the exact amount of the tax due. 
B)  Letter rulings are binding only with respect to the taxpayer requesting the ruling. 
C)  The small cases procedure of the U.S. Tax Court allows a less formal hearing but provides for no appeal. 
D)  The IRS may retroactively revoke an acquiescence. 
A)  The acquiescence policy was adopted by the U.S. Tax Court to permit litigating parties to agree on the exact amount of the tax due. 
B)  Letter rulings are binding only with respect to the taxpayer requesting the ruling. 
C)  The small cases procedure of the U.S. Tax Court allows a less formal hearing but provides for no appeal. 
D)  The IRS may retroactively revoke an acquiescence.

Question 9

What are some of the consequences of the small cases procedure of the Tax Court?

Accepted Answer

The small cases procedure allo

Question 10

What is the purpose of Treasury Regulations?

Accepted Answer

The Treasury Department issues regulatio

Question 11

George's case was handled under the "small tax case procedure." He does not agree with the findings of the Tax Court.He would like to appeal the decision.Which one of the following is true?

Accepted Answer

A)  There is no appeal. 
B)  He can appeal the case, but only if the amount of tax involved is greater than $5,000. 
C)  He would appeal first to the U.S. Court of Appeals for the Federal Circuit. 
D)  He would appeal first to the U.S. Court of Federal Claims. 
A)  There is no appeal. 
B)  He can appeal the case, but only if the amount of tax involved is greater than $5,000. 
C)  He would appeal first to the U.S. Court of Appeals for the Federal Circuit. 
D)  He would appeal first to the U.S. Court of Federal Claims.

Question 12

When a court discusses issues not raised by the facts,the comments

Accepted Answer

A)  are excluded from the formal court opinion. 
B)  may be referenced by the parties in other cases having the same facts. 
C)  are not dicta. 
D)  will cause the court's decision to be declared invalid. 
A)  are excluded from the formal court opinion. 
B)  may be referenced by the parties in other cases having the same facts. 
C)  are not dicta. 
D)  will cause the court's decision to be declared invalid.

Question 13

A Technical Advice Memorandum is usually

Accepted Answer

A)  an internal IRS document describing alternative legislative proposals. 
B)  part of a Tax Court decision. 
C)  requested by the taxpayer before entering into a taxable transaction. 
D)  issued by the national office in response to an audit request. 
A)  an internal IRS document describing alternative legislative proposals. 
B)  part of a Tax Court decision. 
C)  requested by the taxpayer before entering into a taxable transaction. 
D)  issued by the national office in response to an audit request.

Question 14

Identify which of the following statements is false.

Accepted Answer

A)  The U.S. Tax Court must follow the previous decisions of the U.S. District Court for the district in which the taxpayer lives. 
B)  The U.S. Tax Court follows the previous decisions of the U.S. Court of Appeals to which the tax matter is appealable. 
C)  The opportunity for "forum shopping" occurs when different precedents on the same point exist. 
D)  The U.S. Tax Court may intentionally issue conflicting decisions. 
A)  The U.S. Tax Court must follow the previous decisions of the U.S. District Court for the district in which the taxpayer lives. 
B)  The U.S. Tax Court follows the previous decisions of the U.S. Court of Appeals to which the tax matter is appealable. 
C)  The opportunity for "forum shopping" occurs when different precedents on the same point exist. 
D)  The U.S. Tax Court may intentionally issue conflicting decisions.

Question 15

Explain how committee reports can be used in tax research.What do they indicate?

Accepted Answer

Committee reports can help res

Question 16

A tax case cannot be appealed when initiated in the

Accepted Answer

A)  U.S. Court of Federal Claims. 
B)  U.S. Tax Court. 
C)  U.S. Tax Court using the small case procedures. 
D)  None of the above. 
A)  U.S. Court of Federal Claims. 
B)  U.S. Tax Court. 
C)  U.S. Tax Court using the small case procedures. 
D)  None of the above.

Question 17

Are letter rulings of precedential value to third parties?

Accepted Answer

Not really.A letter ruling is binding on

Question 18

A citator enables tax researchers to locate authorities (e.g.,cases and IRS pronouncements) that have cited a particular case.

Accepted Answer

A) True 
 B)False

Question 19

Statements on Standards for Tax Services are issued by

Accepted Answer

A)  the SEC. 
B)  the IRS. 
C)  the AICPA. 
D)  the FASB. 
A)  the SEC. 
B)  the IRS. 
C)  the AICPA. 
D)  the FASB.

Question 20

Where must a tax researcher look to access all Tax Court cases?

Accepted Answer

The regular opinions are found in the Ta

Appeals from the Court of Appeals go to the Supreme Court under a writ of certiorari.The Supreme Court decides whether or not they will hear the case.

Identify which of the following statements is false.

The phrase "Entered under Rule 155" indicates that

In all situations,tax considerations are of primary importance.Do you agree or disagree? Support your answer.

A tax bill introduced in the House of Representatives is then

What are some of the factors to consider when deciding in which court to file a tax-related claim?

When the Tax Court follows the opinion of the circuit court of appeals to which the case is appealable,the court is following the

Identify which of the following statements is false.

What are some of the consequences of the small cases procedure of the Tax Court?

What is the purpose of Treasury Regulations?

George's case was handled under the "small tax case procedure." He does not agree with the findings of the Tax Court.He would like to appeal the decision.Which one of the following is true?

When a court discusses issues not raised by the facts,the comments

A Technical Advice Memorandum is usually

Identify which of the following statements is false.

Explain how committee reports can be used in tax research.What do they indicate?

A tax case cannot be appealed when initiated in the

Are letter rulings of precedential value to third parties?

A citator enables tax researchers to locate authorities (e.g.,cases and IRS pronouncements) that have cited a particular case.

Statements on Standards for Tax Services are issued by

Where must a tax researcher look to access all Tax Court cases?

An Introduction to Taxation

Determination of Tax

Gross Income: Inclusions

Gross Income: Exclusions

Property Transactions: Capital Gains and Losses

Deductions and Losses

Itemized Deductions

Losses and Bad Debts

Employee Expenses and Deferred Compensation

Depreciation, cost Recovery, amortization, and Depletion

Accounting Periods and Methods

Property Transactions: Nontaxable Exchanges

Property Transactions: Sec1231 and Recapture

Special Tax Computation Methods, tax Credits, and Payment of Tax

Corporations

Partnerships and S Corporations

Taxes and Investment Planning

Filters

Exam 15: Tax Research

Appeals from the Court of Appeals go to the Supreme Court under a writ of certiorari.The Supreme Court decides whether or not they will hear the case.

Identify which of the following statements is false.

The phrase "Entered under Rule 155" indicates that

In all situations,tax considerations are of primary importance.Do you agree or disagree? Support your answer.

A tax bill introduced in the House of Representatives is then

What are some of the factors to consider when deciding in which court to file a tax-related claim?

When the Tax Court follows the opinion of the circuit court of appeals to which the case is appealable,the court is following the

Identify which of the following statements is false.

What are some of the consequences of the small cases procedure of the Tax Court?

What is the purpose of Treasury Regulations?

George's case was handled under the "small tax case procedure." He does not agree with the findings of the Tax Court.He would like to appeal the decision.Which one of the following is true?

When a court discusses issues not raised by the facts,the comments

A Technical Advice Memorandum is usually

Identify which of the following statements is false.

Explain how committee reports can be used in tax research.What do they indicate?

A tax case cannot be appealed when initiated in the

Are letter rulings of precedential value to third parties?

A citator enables tax researchers to locate authorities (e.g.,cases and IRS pronouncements) that have cited a particular case.

Statements on Standards for Tax Services are issued by

Where must a tax researcher look to access all Tax Court cases?

An Introduction to Taxation

Determination of Tax

Gross Income: Inclusions

Gross Income: Exclusions

Property Transactions: Capital Gains and Losses

Deductions and Losses

Itemized Deductions

Losses and Bad Debts

Employee Expenses and Deferred Compensation

Depreciation, cost Recovery, amortization, and Depletion

Accounting Periods and Methods

Property Transactions: Nontaxable Exchanges

Property Transactions: Sec1231 and Recapture

Special Tax Computation Methods, tax Credits, and Payment of Tax

Corporations

Partnerships and S Corporations

Taxes and Investment Planning

Filters